TAP chair, CEO still in office, unaware of when to leave

  • Lusa
  • 9 March 2023

TAP has not yet been informed of "any other changes intended by the shareholder in the composition of its management body", which has a term of office until 2024.

The chairman of the board of directors of TAP, Manuel Beja, and the CEO, Christine Ourmières-Widener, remain in office and do not know the deadlines set for their dismissal, according to a communiqué the company sent the CMVM on Thursday.

“Despite the intention of TAP’s shareholder, the chairman of the Board of Directors and the chief executive officer are unaware of any resolution has been adopted by the shareholder, so they remain in office fulfilling the responsibilities inherent to their respective positions,” said a statement TAP sent to the Securities Market Commission (CMVM), following the disclosure of the report by the General Inspectorate of Finance (IGF) on the compensation of half a million euros to Alexandra Reis.

In addition, the airline said that “regarding the intention of dismissal for fair cause of the chirmanand CEO and their replacement, it does not have […] information about the specific procedures or deadlines that will be adopted by the shareholder”.

According to the clarification sent to the market, TAP has also not yet been informed of “any other changes intended by the shareholder in the composition of its management body”, which has a term of office until 2024.

In relation to the return of around €450,000 of the €500,000 that Alexandra Reis received for leaving the airline early, “TAP is taking the necessary steps to recover the amount unduly paid, notwithstanding the possibility that the shareholder may give specific instructions on this matter which will be fully complied with.

According to the statement sent to the market, TAP was informed through a communiqué sent by the Directorate General of Treasury and Finance (DGTF) that procedures would be “immediately initiated to remove the chairman of the Board of Directors, Manuel Beja, and the chief executive officer, Christine Ourmières-Widener, “from all management positions held in TAP companies” for just cause.

On Monday, at a press conference at the finance ministry, the finance minister, Fernando Medina, and infrastructure minister, João Galamba, presented the conclusions of the IGF audit, which had been asked to analyse the termination process of Alexandra Reis and the respective compensation of €500,000.

The IGF concluded that the agreement was null and void, and the government decided to request the restitution of the amounts and dismiss Manuel Beja and Christine Ourmières-Widener, claiming fair cause.

At the end of December, less than a month after taking up her duties as secretary of state for the treasury, Alexandra Reis left the government after Correio da Manhã newspaper reported that she had received half a million euros to leave TAP and later took over the presidency of NAV Portugal – Navegação Aérea.

The case also led to the resignation of the former minister of infrastructure and housing, Pedro Nuno Santos, and the secretary of state for infrastructure, Hugo Mendes.